On Tuesday, 24 October 2023 at 7 pm Sydney time, which is 0800 GMT and 0400 US Eastern time Reserve Bank of Australia Governor Bullock is speaking.The topic is:Monetary Policy in Australia: Complementarities and Trade-offsat the Commonwealth Bank of Australia Global...
Australia preliminary PMI: Manufacturing 48.0 (prior 48.7) & Services 47.6 (prior 51.8)
Preliminary S&P Global / Judo Bank flash PMIs from Australia for October 2023.Wow, an ugly set of numbers. Services have plunged back into contraction. Commentary from the report. in summaryNew orders weakened in October and are below the 50 neutral level,...
AUD traders – NAB says CPI data to be higher than RBA expects, forecast November rate hike
National Australia Bank is forecasting a November Reserve Bank of Australia interest rate hike of 25bp, which will take the cash rate to 4.35%.NAB on the Q3 CPI data that's due on Wednesday, 25 October 2023 at 11.30 am Sydney time, whoch is 0030 GMT and 2030 US...
ICYMI – China’s sovereign wealth fund bought ETFs to prop up puking stock market
China’s state fund Central Huijin Investment said late on Monday it had bought exchange-traded funds (ETFs)and it would continue to do soJust under two weeks ago the fund started increasing its controlling stakes in China’s “Big Four” state banksThe buying came as...
Reports that attacks continuing on US base in Syria
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
China set to approve circa US$137billion in additional sovereign debt issuance on Tuesday
ICYMI from earlier, Reuters report citing three unnamed sources.China is set to approve slightly more than 1 trillion yuan in additional sovereign debt issuance on Tuesday.The Chinese Communist Party is ramping up efforts to boost infrastructure spending and encourage...
There is some talk that US bases in Syria and nearby have been hit (update: fake news)
There are reports of some big explosions and/or drone attacks at US bases in the Middle East in Iraq and Syria. One of the spots said to be hit is the Al-Tanf base in Syria near the Iraq border.Be careful with these headlines and rumors but they're out there right...
Media reports that Putin had a heart attack
Sky carries the report, a;lthough there has been chatter about on this. Putin had a heart attackon Sundayhe has regained consciousnessSky cited social media accounts. A few hours ago similar reports did the rounds. Interestingly US President Biden scurried off from a...
Economic calendar in Asia 24 October 2023
Not a lot here to move forex rates upon release. This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result....
S&P closes below 200 day MA for the 2nd day in a row
The Dow industrial average and S&P index could not hold onto gains and are closing the day lower. The S&P index is closing below its 200 day moving average for the 2nd consecutive day. The 200-day moving average comes in at 4235.17. The index is closing at...
Forexlive Americas FX news wrap: US 10-year yields tag 5% then reverse
Markets:GBP leads, USD lagsWTI crude oil down $2.20 to $85.88US 10-year yields down 6.7 bps to 4.85%S&P 500 down 0.1% to 4219Gold down $8 to $1972A turnaround was the story of the day in North American trade. New York woke up to 5% ten-year Treasury yields on a...
Trade ideas thread – Tuesday, 24 October 2023
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
GBPUSD is the big mover today, and moves toward swing area/MA target
As the day works toward the close, the GBPUSD is one of the biggest movers of the major currencies. The lower yields are helping. So are technical breaks. In this video, I outline the technical breaks and the next targets including the falling 200-bar moving average...
Goldman Sachs: What to expect from this week’s Bank of Canada meeting
BoC's MacklemSynopsis: Goldman Sachs discusses the anticipated monetary policy stance of the Bank of Canada (BoC) in its upcoming October meeting, emphasizing the central bank's reaction to current economic signals. Additionally, they reflect on their recent trading...
Grayscale court ruling sends Bitcoin ETF approval back to SEC
Bitcoin is up 4.7% today and there is all kinds of speculation about a bitcoin ETF.It sounds like a done deal, though the courts sending it back to the SEC slows it down a tad (did anyone really think the courts would order them to covert it to an ETF...
US crude futures settles at $85.49
The price of WTI crude oil futures are settling down $2.59 or -2.94% at $85.49.Looking at the daily chart the high from August reached up to $84.85. That is the next target on the downside. The low price today could only get to $85.40. Get below that level and traders...
USDJPY falls below 100 hour MA, but 200 hour MA (& lows from Thurs/Fri) are stalling fall
The USDJPY moved below its 100-hour moving average earlier today at 149.82. The break below that MA (blue line) has taken the price to the 200 hour moving average at 149.649 (green line), and the low prices from Thursday and Friday at 149.64. Both those levels would...
Hamas says it is releasing two Israeli hostages
There was a report that 50 hostages with dual citizenship could be released but now a reporter from the Times of Israel is reporting:Hamas says it is releasing two Israeli hostages held in the Gaza Strip. It had previously claimed that Israel refused to accept them,...
The automotive market is an accident waiting to happen
Whenever rates get high, the market worries about housing but I think that's another case of generals fighting the last war. There are global housing markets in big trouble with high rates but the US isn't one of them.Autos are a different story.Prices of vehicles...
Red Cross to receive 50 hostages with dual citizenships held by Hamas – report
I don't know this source, so handle it carefully but i24news.tv reports that 50 hostages (of the roughly 212 held) will be released. A separate report from KAN TV reports that hostages will be released as well, but doesn't cite a number. Earlier, Al Arabiya also...